Thank you
Michael Chez
Compass
818-399-8818
Exceptional and rare Investment opportunity with this 7-unit building in North Hollywood, spanning 4,081 Sqft and situated on a 7,882 Sqft lot. Each unit in the building offers a 1 bedroom and 1 bathroom layout. The consistent unit configuration across the property ensures ease of management and appeals to a broad rental market. The LARD1.5 zoning enhances the property’s value, offering potential for future development. It’s a unique blend of current stability and future growth prospects. Located in a vibrant neighborhood, this property benefits from its strong rental demand, making it an attractive investment choice. The current capitalization rate (cap rate) stands at 4.5%, indicating a healthy return on investment. Additionally, the potential for a pro forma cap rate of approximately 9.2% showcases the significant upside potential of this investment. This property is not just an asset, but a gateway to long-term financial growth and success in the real estate market. It’s ideal for investors seeking a balanced combination of immediate income and potential for value appreciation.
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Water Source : Public
Sewer : Public Sewer
Wall/Window Unit(s)
Air Conditioning
Year Built: 1951
Building Area Total: 4,081
None
Inside
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1824
Lot Size Source: Assessor
Lot Size Square Feet: 7944
Original List Price: 1,299,000
Listing Contract Date: 2024-01-12
Listing Agreement: Exclusive Right To Sell
Parcel Number: 2321022022
Garage Description: Uncovered
Lease Term: Negotiable
Tenant Pays: Cable TV,Electricity,Gas
Source Listing Status: Active Under Contract
Source Neighborhood: NHO - North Hollywood
Postal Code Plus 4: 6062
Directions: East of Laurel Canyon | North of Vanowen
Zoning: LARD1.5
Source Property Type: Residential Income
Area: NHO - North Hollywood
Property SubType: Apartment
Property Age: 73
Common Walls: 2+ Common Walls
Structure Type: Apartment
Year Built Source: Assessor
Entry Level: 1
Entry Location: Street
Property Attached: Yes
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
6944 Radford Avenue, North Hollywood, CA,91605 | $1,498,000 | 4 | 3 | 2,420 | 9000 Sqft |
11813 Runnymede Street .., North Hollywood, CA,91605 | $225,000 | 1 | 1 | 750 | 103238 Sqft |
12140 Hart Street, North Hollywood, CA,91605 | $1,199,000 | -- | -- | -- | 6996 Sqft |
12140 Hart Street, North Hollywood, CA,91605 | $1,199,000 | -- | -- | -- | 6996 Sqft |
12007 Saticoy Street, North Hollywood, CA,91605 | $1,100,000 | 4 | 3 | 1,778 | 5925 Sqft |
6904 Radford Avenue, North Hollywood, CA,91605 | $479,000 | 2 | 2 | 988 | 7871 Sqft |
12429 Burton Street, North Hollywood, CA,91605 | $1,299,950 | 4 | 3 | 2,092 | 7573 Sqft |
13125 Strathern Street, North Hollywood, CA,91605 | $1,090,000 | 5 | 2 | 2,169 | 7202 Sqft |
6860 Gentry Avenue, North Hollywood, CA,91605 | $2,800,000 | 8 | 6 | 6,329 | 6772 Sqft |
11731 Runnymede Street, North Hollywood, CA,91605 | $2,395,000 | 5 | 4 | 5,613 | 6770 Sqft |
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ByOwner last updated this listing 05/11/2024 @ 10:05
MLS: SR24007393
LISTED BY: Michael Chez, Compass
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.